Implementation effect of China’s green finance pilot policy based on synthetic control method: a green innovation perspective

Tang, Decai; Fu, Bingbing; Boamah, Valentina

doi:10.1007/s11356-023-25977-8

Cited by 7 publications

(6 citation statements)

References 54 publications

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“…Based on the indicator statistics, the ECS ranges from 0.0081 to 19.2919, with an average value of 0.3634, indicating a higher ECS variability during the sample period. The average PGDP is 55,761 yuan, and there is also a certain regional gap problem, which is in line with the findings of Tang et al (2023). In terms of the other variables, the gap between the different regions was more obvious.…”

Section: Descriptive Statisticssupporting

confidence: 85%

“…Many studies have investigated the importance of the PZGFRI in improving environmental protection and decreasing air pollution, however, empirical evidence on the impact of the PZGFRI on the ECS in China remains scarce. Many previous studies have corroborated the relationships between the PZFGRI and the environmental effect (Huang and Zhang, 2021), energy consumption intensity (Su et al, 2022), enterprise development (Yu et al, 2023), green innovation effect (Liu and Wang, 2023;Tang et al, 2023), air pollution and urban green development . According to the above-mentioned literature, few studies have focused on the impact of the PZGFRI on the ECS.…”

Section: Introductionmentioning

confidence: 74%

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Will green financial policy influence energy consumption structure? Evidence from pilot zones for green finance reform and innovation in China

Cui

Mao

Xiang

et al. 2023

Preprint

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We consider the pilot zones for green finance reform and innovation (PZGFRI) set up in 2017 as a quasi-natural experiment, and we adopt the synthetic control method (SCM) to evaluate the possible policy effects of the PZGFRI on the energy consumption structure (ECS) based on panel data from 30 provincial-level administrative regions from 2013 to 2019. The empirical results reveal that the PZGFRI set-up plays a key role in influencing the ECS. The PZGFRI policy significantly optimizes the ECS in both Zhejiang and Guizhou Provinces, with the investigative result in Guizhou Province being better than that in Zhejiang Province. Meanwhile, ranking, placebo, and robustness tests were still valid. This study contributes to a better understanding of the effectiveness of China’s PZGGRI policy on the ECS.

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Section: Descriptive Statisticssupporting

confidence: 85%

Section: Introductionmentioning

confidence: 74%

Will green financial policy influence energy consumption structure? Evidence from pilot zones for green finance reform and innovation in China

Cui

Mao

Xiang

et al. 2023

Preprint

View full text Add to dashboard Cite

show abstract

“…Many studies have investigated the importance of PZGFRI in improving environmental protection and decreasing air pollution; however, empirical evidence on the impact of the PZGFRI on the ECS in China remains scarce. Many previous studies have corroborated the relationships between the PZGFRI and environmental effects (Huang and Zhang, 2021), energy consumption intensity (Su et al, 2022), enterprise development (Yu et al, 2023), green innovation effect (Liu and Wang, 2023;Tang et al, 2023), air pollution and urban green development . According to the abovementioned literature, few studies have focused on the impact of the PZGFRI on the ECS.…”

Section: Open Access Edited Bymentioning

confidence: 74%

“…Earlier literature mainly utilized the DID method (Su et al, 2022;Yu et al, 2023), PSM method (Huang and Zhang, 2021), and SCM (Tang et al, 2023) to estimate the influence of green financial policy. However, if the identifying assumptions in the DID method, including the parallel trends assumption, are not supported by the data, the DID method is inappropriate for evaluating policy effects.…”

Section: Synthetic Control Methods 421 Background Analysis Using the Scmmentioning

confidence: 99%

Will green financial policy influence energy consumption structure? Evidence from pilot zones for green finance reform and innovation in China

Cui

Mao

Xiang

et al. 2023

Front. Environ. Sci.

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Green finance is considered an effective way to promote economic development and environmental protection. The Chinese government has formulated the green financial reform and innovation policy to change the energy consumption structure (ECS) and achieved the goal of economic development and environmental protection. This paper considers the pilot zones for green finance reform and innovation (PZGFRI) set up in 2017 as a quasi-natural experiment, and we adopt the synthetic control method (SCM) to evaluate the possible policy effects of the PZGFRI on the ECS based on panel data from 30 provincial-level administrative regions from 2013 to 2019. The empirical results reveal that the PZGFRI setup plays a key role in influencing the ECS. The PZGFRI policy significantly optimizes the ECS in both Zhejiang Province and Guizhou Province, and the investigative result of Guizhou Province is better than that of Zhejiang Province. Meanwhile, the placebo test and robustness tests are still valid. This study contributes to a better understanding of the effectiveness of China’s PZGGRI policy on the ECS and also provides a reference for the country’s green finance to promote the adjustment of the ECS.

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“…Scholars use synthetic control and other tools to study how these initiatives affect green innovation. The results help determine the real-world implications of such experiments and their potential for wider use [48,113,121,131,146,162].…”

Section: Green Finance and Innovationmentioning

confidence: 96%

Emerging new themes in green finance: a systematic literature review

Mudalige

2023

Futur Bus J

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There is a need for an extensive understanding of the emerging themes and trends within the domain of green finance, which is still evolving. By conducting a systematic literature review on green finance, the purpose of this study is to identify the emerging themes that have garnered significant attention over the past 12 years. In order to identify the emerging themes in green finance, bibliometric analysis was performed on 978 publications that were published between 2011 and 2023 and were taken from the databases of Scopus and Web of Science. The author examined annual scientific production, journal distribution, countries scientific production, most relevant authors, most frequent words, areas where empirical research is lacking, words' frequency over time, trend topics, and themes of green finance. The outcome of the review identified the following seven themes: (i) green finance and environmental sustainability; (ii) green finance and investments; (iii) green finance and innovation; (iv) green finance policy/green credit guidelines; (v) green finance and economy; (vi) green finance and corporate social responsibility; (vii)trends/challenges/barriers/awareness of green finance. The analysis of these emerging themes will contribute to the existing corpus of knowledge and provide valuable insights into the landscape of green finance as it evolves.

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Implementation effect of China’s green finance pilot policy based on synthetic control method: a green innovation perspective

Cited by 7 publications

References 54 publications

Will green financial policy influence energy consumption structure? Evidence from pilot zones for green finance reform and innovation in China

Will green financial policy influence energy consumption structure? Evidence from pilot zones for green finance reform and innovation in China

Will green financial policy influence energy consumption structure? Evidence from pilot zones for green finance reform and innovation in China

Emerging new themes in green finance: a systematic literature review

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